What does the name CITGO mean?
When Cities Service determined that it needed to change its marketing brand, it introduced the name CITGO in 1965, retaining the first syllable of its long-standing name and ending with “GO” to imply power, energy and progressiveness. The now familiar and enduring CITGO “trimark” logo was born.
What did CITGO used to be called?
The Cities Service name was changed to CITGO in 1965. In succeeding years CITGO was acquired by Occidental Petroleum (1983), the Southland Corporation (also in 1983), and Petróleos de Venezuela, S.A. (1990).
Who is the owner of CITGO?
CITGO Holding, Inc.
Is CITGO Venezuelan?
Citgo split from Venezuelan state-run oil company PDVSA in 2019 after the U.S. imposed sanctions intended to oust Venezuela’s President Nicolas Maduro. Then congress chief Juan Guaido appointed new boards and won U.S. court recognition of their authority over the refining subsidiary.
What country owns Citgo oil?
Petróleos de Venezuela
CITGO became wholly owned by Petróleos de Venezuela (PDVSA).
Who is the CEO of Citgo?
Carlos E. Jordá (Aug 13, 2019–)
Chief Executive Officer & President Carlos E. Jordá is the Chief Executive Officer & President of CITGO Petroleum Corporation. He has 47 years of experience in the international oil and gas industry.
Who did Valero buy?
The combined companies would own 5,000 fuel stations and 13 refineries. Valero Energy Corp. said Monday it has agreed to buy rival Ultramar Diamond Shamrock Corp. for $4 billion in cash and stock in a deal that would create the nation’s second-largest oil refiner.
Is Citgo downstream?
The U.S. downstream operations have been well managed and fairly well supported, even in recent years, especially compared to PDVSA’s Venezuela-based exploration and production operations.
Is Valero owned by Chevron?
On March 11, 2011, Valero announced that it had agreed to a major European purchase from Chevron Corp. In 2013, Valero spun off its retail operations into a new publicly traded company, CST Brands.